tech

South Korea’s SK Hynix became just the third Asian company to join the $1 trillion club as a breakneck surge in memory-chip stocks and an AI frenzy reshapes economies worldwide. (Source: Bloomberg)

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Shares of SK Hynix soared over 11% on Wednesday, pushing the South Korean memory-chip maker above the $1 trillion market capitalization mark.

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The breakneck surge in memory-chip stocks is intensifying, sending the market capitalizations of SK Hynix Inc. and Micron Technology Inc. above $1 trillion for the first time, as investors bet the AI boom will lead to a sustained revaluation of the industry.

Samsung Electronics Co. union members voted in favor of a compensation deal that will hand chip workers an average bonus of about $340,000, staving off a strike that threatened to disrupt global chip supply.

Boom makes Micron and SK Hynix the newest members.

AI demand strains supplies of lasers, fiber and other optical tech

Thai conglomerate CP faces internal dispute over finance business

Amazon SVP David Zapolsky sells $4.1 million in AMZN shares